Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). k Direct Material Direct Labor Variable Overhead Actual Costs Spending 305 units Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ 16,300 EA $ 14,800 27,000 22,800 9,050 8,800 12,300 11,400 EA 64,650 69 57,800 ces Fixed Overhead Total Manufacturing Costs $

Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). k Direct Material Direct Labor Variable Overhead Actual Costs Spending 305 units Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ 16,300 EA $ 14,800 27,000 22,800 9,050 8,800 12,300 11,400 EA 64,650 69 57,800 ces Fixed Overhead Total Manufacturing Costs $

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 21E: Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is...

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Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows: Required: 1. Calculate the contribution margin variance and the contribution margin volume variance. 2. Calculate the market share variance and the market size variance. (CMA adapted)
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Marten Company has a cost-benefit policy to investigate any variance that is greater than 1,000 or 10% of budget, whichever is larger. Actual results for the previous month indicate the following: The company should investigate: a. neither the materials variance nor the labor variance. b. the materials variance only. c. the labor variance only. d. both the materials variance and the labor variance.
Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs here to search IMG_8420.jpg 19 Actual Costs 585 units $ $ O 19,100 29,800 11,850 15,100 75,850 10 C Spending Variance Master Budget 200 units $ $ 17,600 25,600 11,600 12,800 67,600 72°F Cloudy 0
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1. What raw materials cost would be included in the company’s planning budget for March? 2. What raw materials cost would be included in the company’s flexible budget for March? 3. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.)
1. Compute the fixed overhead spending (budget) variance and the production volume variance for March and indicate whether each variance is favorable (F) or unfavorable (U). 2. Compute the fixed overhead flexible-budget variance for March. Is this variance favorable (F) or unfavorable (U)?
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AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Fixed Variable Component Component per Actual Total per Month for February $ 38,950 $ 8,150 $ 8,300 $ 4,600 $ 2,800 $ 1,590 $ 2,870 $ 960 Job $ 278 $34 $4 $2 $ 9,540 $ 3,250 $ 1,660 $ 2,870 $565 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $34 per job, and the actual mobile lab operating expenses for February were $9,540. The company expected to work 150 jobs in February, but actually worked 158 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. Note: Indicate the effect of each variance by selecting…